The New York Herald Newspaper, August 6, 1859, Page 9

4 NEW YORK HERAL,), SATURDAY, AUGUST 6, 1859 . NEW YORK HERALD. JAMES GORDOS BENAETR, EDITOR AND PROPRIELOR. OFFION N. W. COKNER OF FULTON AND NASSAU STO FRAME, caer im adoance Money sont by mall wil be ai the rik of = eender Postage amos nat received as euecriion THR DAILY HERALD, two conte per copy, $1 par ann. vasesN@r #16 —————— AMUSEMENTS THIS BVENING. . —La NIRLO'S GARDEN, Broadway, -£1uon’s Misitars SriLraipe—Tae Coorsus, BOWERY THEATRA towery.—Biack Evep Scsax— MAGio TevMreT—H7aTe PEcREts. WALLACK’S THEATRE, Sroadway.—Inise Lion—LAus TIONAL THEATER Chatham strent.—Afternoon— ea nit —Wizasp Sxiry, Kvening—TuREm Fast ARs. BARNUM'S AMERICAN MUSEUM, Broadway.—Afer- poee aad Bvening—Wrean, Tas WizakD. WOOD'S MINSTREL BUILDING, 561 and 563 Broadway— Braiorias BonGs, Dances, 40 —Bapovim Azan. BRYANT’S KIN! ELS, Mechanics’ Hall, 472 Broadway. Busissavas, Songs, Dances, 40.—Ditin’s Lann, PALACE GARDEN 48D HAUL, Fourteenth street.— Vocat anz instRomeNTaL Concent. New York, Saturday, August 6, 1858 The News Via Tehuantepec and New Orleans we have news from San Francisco to the 20th ult. The steamers which left San Francisco for Panama on that date had on board $1,900,000 in treasure and 700 passen- gers. The reports say business was dull and prices declining. The ships Storm Clond and Dictator, from New York, and the Belvidere, from Boston, ‘had arr ont. We have additional details of news from Buenos Ayres and the River Plate provinces. The letters of our correspondents, given in another column, contain all the particulars. arrival at this port of the bark Panama Rio papers of June 19. There is no local news of interest inthem. Only one death by yel" low fever was reported on the 18th. Sales of cof- fee were limited to 4,000 bags on the 18th. An English bark was chartered for Valparaiso for £800, and an American schooner for New York at 50c. By the arrival of the schooner Masonic, Captain Perry, we have news from Hayti dated at Aux Cayes on the 2ist of July. Our report s: The country is perfectly tranquil. There is a general reform, especially in the official depart- ments. President Geffrard, being a man of intelli- gence, seeks everywhere men capable of adminis- tering inthe several branches. The Collector of Customs here has been changed. President Gef- frard will visit the South next month. There was a lively time in the Board of Alder. men last evening on the nominations to the Croton Board—the votes not being partisan but politic: There was quite a split in the parties—the opposi- tion and the democrats voting on each side togeth- er against their political associates. Mr. Thomas B. Tappan (democrat) was confirmed as Assistant Commissioner, by a vote of 14 to 2. The nomina- tion of Mr. Alfred Craven, after considerable de- hate, was confirmed bya vote of 11 to 5. The nomination of Mr. Van Schaick, for President of the Croton Board, was laid on the table by a vote of 9 to 7. The subject created considerable interest and attracted a large attendance in the lobby. At an earlier hour of the evening cer tain resolutions regulating the Hoboken ferry, cal- culated to accommodate the public, were presented. The Board adjourned to the first Monday in Sep- tember. ‘Bhe Coroner's inquest in the Virginia Stewart case was held at the New York Hospital yesterday. For a full report of the proceedings, together with a sketch of the closing scenes, we refer our readers to another column. As policeman Connell, of the Nineteenth pre- cinct, was returning to his home at No. 129 East Fortieth street, on Thursday evening, he learned that two boys, whose parents vccapy apartments in the same building, had found a large package of counterfeit bills. He questioned one of the lads, when they told him that they found the money in the cellar between the foundation and the timbers. The bills proved to be counterfeit “ tens’ on the Oneida County Bank, and the quantity seized amounted to $6,400. They were well executed and calculated to deceive even the best judges of paper money. As far as could be ascertained, none of the counterfeits had ever been passed in this city: No clue could be obtained to the counterfeiters. The court martial of Major Cross continued yes- ~ terday, anda mass of official letters was read by the Judge Advocate. The most important feature of 3 rday’s proceedings was the testimony by which the accused proved that he had paid the United States government nearly the full amount 31 of his indebtedness. At the meeting of the Health Co:mmissioners yes- terday resolutions were adopted which, together with the action previously taken in regard to the up town piggeries, will léad to the removal of every establishment of this nature in the city south of High xthstreet. The City Inspector reported having ed large quantities of bad meat in Wash- ington market, and also that hog cholera prevails extensively among pigs in this locality at the pre- sent time. The arrival of a vessel from Sierra Leone was also reported with only three sick men on board, the remainder having died on the passage of bilious remittent fever. : Astcam boiler used in the paper mill of Ran- dolph, Van Liew & Co., at Bloomfield, New Jersey, exploded last evening, wounding one man so se- riously that he is not expected to recover, and in- juring two others severely. The cotton marke waa inactive yesterday, and sales quite limited, The hoavy failof rain during the greater part of the business hours of the day tended to check transactions. In the absonce of sales of importance the market closed nominal at quotations given in another columa. Flour was again heavy, and cheaper for the common graces of State and Western. Southern flour ‘was also easier, while sales of all kinds were limited. Wheat was firmer, and supplies of prime to choice new ‘were ecarce, while sales were modcrate, among which were prime to choice white Kentucky at $1568 6165, and prime Southern at $1 50a $156. Corn was firm, and in fair deroand at 76c. ®78c for Western mixed. Pork was irregular and lower, with sales of mees at $1480 a $18 873g, thin mens a: $13 8734, and primea’ $10 70 a $10 8734, and 1,000 bbls, were sold, deliverable in the first fifteen days of October, at $15. Deef was heavy, while lard was firm. Sugars were without change of moment: the sales embraced about 800 bhds. and 507 boxes, at rates given in another place. Freights were firmer, with more offering for English ports. Among the engagemenis were 6(0 bales of cotton for Liverpool at 5 324. a 316d. Yacutise.—The squadron of the New York Yacht Club will rendezvous at Whitestone to- day, preparatory to their start on their usual grand summer excursion. They will number up wards of fifty splendid yachts, and will proceed - op the Sound together to Edgartown, Martha’s Vineyard, under the command of their new Com- modore, Edwin P. Stevens, Feq. We learn that this gentleman bas entered upon the duties of his command with a spirit which Wide fair to eclipse the nautical ardor of his brother, the late Commodore John C. Stevens. We hope that when the squadron gets to Edgartown, and its members begin to feel their sea legs, the new Commodore will give them a run out to sea, and extend the cruise down to Boston and Portland, With a squadron composed of over fifty fine ves. sels, it is time for the New York Yacht Club to take a first rank in amateur seamanship, and show that it possesses pluck equal to the wealth of its members. ‘The Revwwal of the Afsicnn Slave Trade in the Souch, and tts Northern AMfiuatioas, We publish today another letter from Wash- pgton on the practical revival of the Africaa slave trade in the South, in which our intelligent correspon dapt, in the promisee; earnestly maia- tains the authenticity of his startling infurma- tion upon the subject through he-e columns a few wecks ago. We are thus assured that “ every syllable” of that informution “ ia se a ion to tke landing of Jarge cargoes of imported savages on the coast of Florida, was strictly true,” and that this contraband business alorg the Florida coast is carried on very extensively. We are further informed that there are depeta for the reception of these “savages” in over twenty Southera cities and towns ; and thatin three of these de- pots one gentleman bad seen altogether some cine hundred Africans, Another geotieman, in- terested in the business, estimates the number of cargoes successfully diapersed ‘nto the Soutoerp interior, within eighteen months, as high a1 be- tween eixty and seventy, inclacing an aggregate of “savages” of perhape over fifteen thousand. Now, granting that the secresy and mystery necessarily connected with such lawless enter- prises do inevitably lead to exaggeration, we still wicve that, touching the practical revival of the African slave trade in our extreme Southern States, our correspondent may bo relied upon. His means and sources of information on the sub jvet e: e extensive and respectable, including some of our best informed Southern politicians; and we Care say that it istoa well grounded alarm ou their part at the drift of this dangerous move ment, socially and politically, that our corres- pordent is mainly indebted for his astounding Gisclosures. Nor does it require any vidlent stretch of credulity to accredit his statements, considering the facilities which were afforded for the successful distribution of the slave cargo of the yacht Wanderer, in the very face of the guardians of the law, local and federal, and con- sidering the temptations of the almighty dollar to the importer, his consignees and the contract. ing purchasers of these “ savages.” This is the Southern side of this alarming movement; but it has also a Northera exposure. It appears that most of the vessels engaged in this nefarious traffic are not only built at the North, but are fitted out at the North, “with a full knowledge of the use to which they are dea- tined, and with an eye to a share of the profits.” We are thus told that there are at least “two vessels being prepared at this moment fors -lave trip from the port of New York, and that a coa- siderable number of such vessels are being made ready for sea in the New Eugland States,” Thus, while the extreme Southern States are furnishing the depots, the extreme Northern States are sup- plying the veesels in these joint stock epecula- tions between Southern nigger-driversand North- ern nigger-worshippers. ‘Bhe almighty dollar fs tho charm which makes them a band of brothers in this profitable business; but beyond their common financial interests, they are as widely separated as canting hypocrisy and « bra- zen defiance of law. The Southern African slave trader boldly avows his principles and his purposes; his North- ern confederate, while jingling in his pockets the dirty gold received from the profits of a slave cargo, will preach by the hour the atrocities of Southern slavery and the impudent demands of the “slave oligarchy.” We have expressed our suspicions that Thurlow Weed, for example, be- longs to this class of Northern nigger-worship- pers. And is he not open to such suspicions? Is not everything fish that comes into his net, from a “free wool” lobby fee of five thousand dollars, to a joint stock lobby speculation in a Georgia uavy yard? Andif the cotton planters of Georgia will pay a good cash price for import- ed niggers, insuring a large profit to the shippor is Weed the map, or is auy such slave-pitying and slavery-hating black republican lobby spec- ulator the man to refuse a venture to the coast of Africa? But while our Northern Puritans and black re- publicans are financially implicated in this “in- famous traffic,” we protest against their thrusting the political responsibilities thereof entirely upon the democratic party, or the controlling Southern wing ofthat party. The simple truth of the mat- teris, that these Northern abolition confederates in this African slave treffic are endeavoring to make a couble system of profits out of it—first, from their slave ships and cargoes, and secondly, from a hue avd cry against the Southern demo- cratic party as a party resolved upon the revira! of this African trade, with or without the autho- rity of law. The pot may call the kettle black- moor, but we do think that while our Northern nigger-worebippers bave their “long, low, black echooners” dedging in and out among the creeks of the Florida coast, with “savages” bound “for Cowes and a market,” they should touch ginger- ly upon the horrors of the African slave trade. THe Last anp THE CrowstnG Epict From Governor Wisk.—It was a shrewd remark of Tony Lumpkin, that “the inside of a letter is the cream of the corrcspondence;” and so an inside view of an ambitious politician, like that which has been furnished of Governor Wiee in the dis. clorure of bis last manifesto on New York poli- tics, is worth all the outside embroideries of a hundred learned essays intended for the public eye. Our city cotemporaries, with one excep- tion, accept this remarkable edict from Rich- mond as the genuine article, aud they are right in doing 80. The exception ia the Daily News, which naturally enough hesitates to whistle its choeen hero down the wind. But the News will be compelled to admit the eoft impeachment, and the sooner, perhaps, the better. Let Governor Wise be laid aside for the present, and let the Nars proceed vigorously to the battle for the delegates to the State Convention, and there may yet be peace in the democratic family—par- lor, kitchen and coal-hole—a cordial reunion in September, and a great victory in November upon the paramount issue of Seward and his treagonable and revolutionary Rochester speech Tue Press snp THE PreTeNven Geoora- PurcaL Errors or THE Henatp.—There are a number of small potato journals published in this city, which endeavor to make up for their want of enterprise and attraction by endeavoring to pick flaws in the Heraxp. It is ensy enough to get a small diamond without an imperfection, but as yet no Koh-i-noor has been discovered without one. We do not pretend to be without flaws, but we lay claim to some manlinesa, When the news of the treaty of Villafranca first arrived here, we stated that Austria was to re- tale the fortresses of the great equare. Several papers, thinking that they had found an oppor- tunity of cheeging us with geographical igno- Tance, pretended that we did not know what the boundary line of Lombardy was, because we an- nounced the retention by Austria of these four fortresses. We have waited several days for our ) Correctors to rectify their own error, hut a3 yet they have not had the mantincss to do it, What ws the Reiigious Marte of the Itallan Confedesaaien 3 The corre denta of the Gaglish journals, writing fra termany about the prace, do not understand what they are writiog about, aod mapy American jonrnsls are equally pozzied as to the meaniag of the vew Italian Confederation, and ite the purest monusense on the subd jeet. The “ first con of the church” well kuows what be means by the peace of Villafrenca, aua what be meavs by the political reorgavization of Italy under the Presidezcy of the Pope But it is beyond the compreheasion of the snal low and the ebort sighted, who only seo in it an eviderce of bis conscicus weakness or of his fears, They bave not tbe sagacity to perceive that the Gesign of the Emperor of the French ig to oagurate a new era in the Catholic cburch—an epoch which will not mark its speedy decline and fall, but its regeneration, whence it will take a new start and eater on 4 new creer of civilization, in which it will absob the numerous sects which revolted from it or split from each other. There is very little real difference mow between the Catholic and the Protestant churches. The former is no longer what it was, and its members do not now believe in the absurdi- ries which were grafted upon it in the Middie Ages, The Protestant sects are al! be- ginning to feel that they bave failed tn maintain- ing the spirit of Christianity, and there is a ten- cency am(ng them to return to the o'd C shol'c reb, with its sublime ritual, in which the im. pation of the cevout can find attractioss ard vbarms for which it will look in vain in the dey Protestant creeds, with their speculative the- ology, which the most intellectual and educated minds can scarcely understand, but which are ansolved riddles to the great mass of the com- wnpity. The Puseyites in Eogland, and the movement of Dr. Bellows and his friends ia this country, are but indications of the general ten- dency. And ifreligion, with its genial warmth and its immortal hopes, is to be preserved in the world, and cold infidelity is not to overrun all Earope ard America, there is nothing left but a return to the Catbolic church, purifies, recon- structed and adapted to the wants und the civili- zation of the sge. Louis Napoleon, the man of the age, understands this, and its accomplish- ment is bis great mission. The Catholic Church owes its first power to the Roman Emperor Constantine, who, being con- verted to the faith, not only stopped the persecu- on against Christianity, but made it the estab- lished religion of the empire, and acknowledged the Bishop of Rome as the chief bishop of the CLri-tian Church. Pepin and Charlemagne, by their grants, established the temporal dominion of the Roman Bishop, and laid the foundation of bis political power in Europe, which attained its highest pitch under Hildebrand, a Pope who was at the same time a great reformer of the church, and a mighty potentate. His ideas were carried out still more boldly by his successor, Innocent TIL, who was hardly second to him, and who, young, noble and intrepid, united with a spirit of ecclesiastical usurpation which none had ever carried so far before, the more worldiy ambition of consolidating a separate principality for the Holy Sce in the centre of Italy. The contest begun between the German Em- peror Henry IV. and Pope Gregory VIL. (Hilde- brand) for the independence of the church was long continued by their successors, and the cele- brated parties called the Guelfs and Ghibelins, of Lombardy, took an active part—the former in favor of the Pope, and the latter in favor of the Emperor. Nearly the whole population was di- vided between them, just as that of England has been 80 long divided between whigs and tories, and as the people of the United Stutes used to be divided between whigs and democrats. There was one important source of power by which the Popes were greatly strengthened, and that was the Universal Council, which was es- tablished under the authority of Constantine, end consisted of commissioners from all the churches of the Christian world, and who, consequently, represented the church Catho- lic, or universal. The first of these Councils was held at Nice, A. D. 325, and the last at Trent, in 1546, the same year in which Luther died. The Bishop of Rome, being first in rank, | presided at the councils, and thus gained great | Will be constantly occurring? The State Legis. pre-eminence. At these assemblies platforms ot doctrine were laid down ana voted for just as | do the heads of the democratic party iu their | national Conventions at Baltimore, or Cincin- nati, or Charleston. As the power of the Popes and of the Roman Church became consolidated, extended and firmly established, corruptions and absurdities crept in, till, in the time of Leo X., the open sale of in- dulgences precipitated the Reformation; and the cold, argumentative minds of Northern Germa- by, Switzerland, Scotland, Sweden, Denmark and Norway not only revolted against doctriaes and practices in the Roman church which cer- tainly did not belong to it originally, but against its whole ritual and system of worship, invented by the warm hearted Italians—children of the sunny South, with whom the coarser Northerns had little in common. The Roman ritual is formed more for the imagination, and addressed more to the eye und the ear than to the intellect. The fine arts are its handmaids—painting, sculp- ture, music and poetry. Thisis because the Ita- liana live in the open air of their lovely clime, and are familiar with the sublime and beautiful forms of nature, In cold and harsh climates, on the contrary, the people live in-doors, and the mind having nothing external to feed upon, turns in- ward on iteelf, and much reflection and specula- tion are the results, In England, which is half Celtic and haif Saxon (for the sacient Britons were all-Celts), the Reformation gained ground, not so much from conviction as from the despot- ism of Henry VIIL, who wanted to be head of a cburch like the Pope, and to gratify his beastly passions with impunity and with- out restraint. The Reformation only suc ceeded among the Northern or Teutonic races. Among the imaginative Celts of France Spain, Portugal and Ireland, Protestantism ha never made any headway, and never will. To this day, a8 a general rule, the Protestants arc Saxons, and the Catholics Celts. The French Revolution, it is true, ‘was a reli gious and philosophical, as well as a politica! revolution, and the seeds of it were sown long before in England, and in the Revolution of this country. But in its religious and philosophical aspect the French Revolution tended not so much to Protestantism as to infidelity, for Protestantism could not take root in France. When the first paroxyams of the Revolution were over, the popular mind re. turned to Catholicism, in which it was aided by the wisdom of Napoleon, who restored the Catbo- lic religion a8 a necessary element of govern ment and civilization, which had heen abolished | sits ty the Direoty AS far ee it was N or racoerd After the R: apt governme Bertbolomew, ion the successes of Pr the m: ore on of ¢ 4 Jon of tha c @ order of the rhearly every gi nent in Eu- rope, aud their fina) extinetion by P. XIV. in 1773, the Fr Revyolutio yess after, and the ubolidion of the Ic by Napoleon Bonaparte, were ail events which coutnbuted, directly or indisectly, to reduce the Papal power in Europe to the mere shadow of what it was, But Bonsparte saw that the Catho- lic religion itself had a strong bold on the affec- tions of the people in France and other Catholic countries, and therefore he restored it to ita le- gitimate position, Hud he been permitted to carry out bis ideas he would Lave probably re- stored the Pope to Rome, and made him the head of an Italian Confederation—not only for the sake of Italy, which he loved, but as aa effectual barrier ogainst the encroavhments and aggran- dizement of Austria, “That swelling epirit,” says Su Walter Scott, “entertained the proud, the noble idea of uniting the beautiful peninsula of Italy into one kingdom, of which Rome should be once more the capital ” Napoleon IIL. is uow in a position to realize the ideas of Napoleon L, modified by his own experience and by the rapid intellectual progress and changes of hava century. By erecting an Italian Confederation and placing the Pope of Rome at is head, he establishes power'ul go- y-rnment, his friend and ally, on his own fron. tier, and between him and Austria, whose pre sent Emperor he has won by the religious idea of the Confideration. And he gives the Catho lic religion a new lease of power, and makes it an agent of extensive civilization. Stripped of the mummeries which were heaped upon it in the dark ~ges, and its fascinating ritual blended with ph !osopby, and adapted to the progress of the age, it will thus become a religion suited to the Protestant as well as the Catholic mind, and, supereeding the myriads of Christian sects, will regain the position it lostin Europe. Had this course been pursued at the time of Luther and Calvin there would have been no Protestant Re- formation, but a Catholic one, like that of Hilde brand, within the church itself. The religions of Protestants and Catholics are at bottom the same. They are both founded on mysteries which cannot bow be understood; but the codes of doctrines and morals are essentially alike, while the Catholic church bas the advantage of its magnificent ritual to kindle devotion, to touch the goul through the senses, and to appeal to all that is beautiful in nature and art to win the affections to Heaven and to God. Such is the grand design of the Emperor of the French. Tre Late Ratroap Disaster—IRresros- owuary OF Raruway Compantes.—Accordiog toall accounts there are no means of making the directors of the Northern Railroad pecuniarily responsible to the sufferers by the recent dread- ful accident near Schaghticoke. The company is, it appears, hopelessly bankrupt through its own improvidence and mismanagement, and nothing can be squeezed out of it in the shape of money compensation to the families of the persons who have been so cold bloodedly sacrificed by its neglect. As there is no way of reaching the pockets of the shareholders, the men to whose indifference to their duties this dreadful disaster is attributavic shonld be made criminally re- ponsible. If the law provides noremedy for cul- pability euch as theirs, then recourse must be had to fresh legislation on the subject. Toe same causes which produced this dccident are actively at work upon all our other railroads, and if things continue to go on in the same fashion, in a few years there will not be a liae in the Union which will be in a sefe condition to travel over. What then will become of the families of the unfortunates who may be killed or incapacitated for labor by the accidents that 0 Clement 1 teventy quisition latures should at once take measures to secure such aresponsibility, pecuniary or penal, on the part of railroad directors as will awaken them to a proper sense of the obligations which they have contracted towards the public, and thus prevent the recurrence of such digasters, The subject is of course surrounded with diffi- culties, but they can be overcome. The simplest and most direct remedy is the one that will have the best chance of escaping the formidable influ- ences that will be brought to bear by the rail- way companies to defeat it. A short time ago one of the charivari papers threw out a sugges- tion which, although intended merely asa humor- ous illustration of the necessities of the case, is perbaps as effective an expedient as can be de- vised. It proposes that a seat shall be construct- ed on railway locomotives immediately over the cow-catcher, which the President, or one of the directors of the company, shall be alternately compelled to occupy. We have no doubt that if ; this plan were put in execution it would be at- tended with the happiest results. Whatever may be the opinion of others as to its merits, we re- peat that the law should afford some sort of pro- tection against railway companies whose bridges are known to be as rotten as their finances, Private Piacertes anp Postic Heatra.— Not only does the existence of that abominable nuisance—the piggeries up town—infest the whole locality around, destroy it as a place of residence, and seriously damage the price of property, but it renders the only modes of egress and ingress to the city of persons in carriages and on horseback unendurable. No one can venture on any of our avenues or roads in the upper part of the city, with a view to get into the fresh air of the country, without pass- ing through the pestilential atmosphere and sickening stench of the piggeries first, nor can be return without having the fragrant air of the fields and woods completely neutralized by the same abominable ordeal. City Iuspector Delavan has undertaken a vigorous war against the piggeries, and it will be seen by our report of the Board of Health Proceedings yesterday, that this body has fully endorsed him in his laudable efforts to rid us of the nuisance. We hope that the City Inspector will at once sweep the whole {sland clear of the piggeries. They have no business in the vicinity of a crowded metropolis like this. At one time it was thought impossible to get rid of the pigs, those public scavengers which roamed in droves almost through every street in the city: but nevertheless they were driven out. Let us send the piggeries after the pigs, Mr. Delavan. in Preomont, the edie of Nuntes by Heury LV. | y dto toe persecution of | edict by | The Late Mattveod tm ae Receiver, railroad gees into the hands of 2 re- as oBe can be found. Ft is aati og “is a frieudly one, and de- all interests, iactading stock- cured bondholders againet hor- ferds of a bolders aud tite creditors.” Tria tea yp only an eney otty way of phrasing it, but it is down of “ the stockholders G@ unseoured fibolders,” to a fate as cer- taia aa (hat which attended the unhappy travel- less over the bridge of Schaghticoke, bat not quite 6o shocking, And then those “ hostile creditors.” No doubt they wanted their money, and hence their hostility. The rascals, Take the Jaw of them, and cheat them out of it. What business have they to want their money back? Protect the poor unsecured bondholders and stockbolders, aod if there is anything left atter the expenses are psid we hope they may get it. The fate that has overtaken the Erie Ruilroad is already spproaching fcr many of a large class of roads of which the Erie isa representative. They are just as rotten as the bridge at Schaghticoke, acd will let their stockholders and bondholders down in just the same way. We have eid that the Erie Railroad isa re- presentative of a certain class of railroad enter- prises in this country. In building railroads among us three diflerent systems bave been pur- sued. At fret it was supposed that for euch a work it was necessary to raise « large capital by actual siock subscriptions, the instalments on which, collected in cash, went to pay for the work as it progressed. A few roads were built on this plan, but it was found to be slew. Capi- tal for such investment was uot abundant, aud, besides, it was found to partake of the ridiculous oid method of not getting a thing till you were able to pay for it. Then some of our great fiaan ciers invented another plan of building railroads by borrowing the mouey. Here wondrous skill in the art of borrowing has been displayed. All binds of subterfuges, representations, schemes, gamcs and dodges have been resorted to. The Erie is their perfect representative. It cost thirty-nine millions of dollars to build it, and it is worth fourteen millions to-day in the market, perhaps. The borrowing system was e0on played out, for capitalists saw through it. ‘ben came the graod public land grant sys- tem, of which the Illinois Central is the representative. That road owns half of the State of Ilinois, makes and breaks its Governors, Senators and Representa- tives, avd has its finger or its foot in the nomina- tion for the Presidency of the whole Union. With the fate of the Erie we may safely as- aume that the destiny of the compantes that built through the borrowing system, based on bonds and mortgages, is fulfilled. Their time has come. They must tollow ia the footsteps of their leader and representative, and give up the ghost, handing over their effects to their mort- gagees. What manner and class of persons these are may be best illuetrated by the relation of a fact: During the height of the panic in 1857 a prominent railroad eame into the market for a It was pub- Joan of several millions of dolJars. sbridgem+nt, of sume, however, ti tucky, Tenuesece bas been dvae in the § tion of the next Congr the democracy, Beyond this the cocfusion of Southern parties and politic explicable as ever. werk or two, when “ the back counties” ievolved in these late elections sball bave rendered ia their returns, we may have some light for a Pre. sidential horoscope. Wohere there are very few railroads and telegraphs, but plenty of mouutaing and slow couches, we must be patient. pa aes i te perty. We pre- Virgicia, Kee- Norta -Carotioa, enough ath to aetile the quae oy agsinat eouclush romaing a8 ta- course of @ Perhaps, ‘The Era of Conventions. This is, par exoellence, the country of conven- tions. They belong to our peculiar institutions. Every pursuit and business of life, every subject of speculation or thought, whether it be agrical- ture, trade or commerce, the sciences, the usefal or the flue arts, government, politics or religion, the affairs of earth, or Hell, or Heaven—each has its convention, where all that relates to it ediacussed. Just now the conventions are ia full blast, and in a few weeks the agricultural gatherings will take place. Every State has its Sgricultural fair, aud there is one national fair for the whole Union, These gatherings appear {o have done some good for agriculture, and haye accomplished something in the way of pro- duéing mutual admiration. There have been railroad conventions without end, and the more we bave had of them the more bridges have broken down and the more lives have been sacrified to the Juggernaut of gaia, There have been Southern commercial conven- tions, in which the most arrant nonsense has been ventilated and every well established priaciple of commerce ignored. There have been political conventions without number; and what good, we would like to know, have they done fer the com- munity, or inhow much worse a condition would the political affairs of the country be if there never bad been @ convention of whigs, or democrais, or black republicans, or Kuow Nothings, or abo litionists, or fire-eaters? There has been lately a negro convention, at which George Downing presided. Does any one suppose that will coa- tribute to the abolition of slavery or the cleva- tion of the colored brethren? There have been free lovers conventious women’s rights conventions, in which the di: mersions of the crinoline,axd the liberty of wearing breeches have been the importa»t ques- tions under consideration ; and there have beem “Baby Conventions,” to exhibit the best speci- mens of native human manufacture by way of Dlustrating the art of breeding the genus homo. How far the information derived from these 93- semblies has been productive of a healthier race of children we will not undertake to say. T! discussion would be rather revolting to ou readers, There bave been temperance conventions yast numbers, the principal effect of which h been to promote the liquor trade—for instance, Auburn, where the firm of Rhodes & Sewa has done euch a thriving business. licly announced that the company must have the money, and bids at any rate would be ac- cepted. The time was not propitious for bor- rowing, when, to use a cant phrase from Wall street, money was worth one per cent a minute; and supposing only sixty per cent was bid by parties who knew what they were about, the en- tice property of the company was mortgaged for the debt. By such operations as these, direc- tors, presidents and cashiers have been able to grow wondrously rich, and to live in fine brown stone houses on the Fifth avenue, spending at a rate double their income. We know this state of things cannot be agreea- ble to the stockholders who have. put their money into the road, if, indeed, there are any such. We incline to believe that many of the roads now figuring os great companies have only enough steckholding timber to make a presi- dent and board of directors of, and that the rest of the fabric is built of just such rotten stuff as the bridge at Schaghticoke. Roadways Science. When they succeed in equaring circle, or in solving the problem of perpetu motion, or in explaining the connectioa be! body and mind, or the law of volition, or # principle by which like begets like, the wi meet in convention at Plymouth Rock, Judge Edmonds, ex-Senator Talmadge, a otber Icaders of the sect, all glowing with phetic fury to make known their revelat mankind. At the late meeting held there the foundation stone of the national monun +o the Forefathers, there was a dispute which of two families belonged the hono having the ancestor who first put his foot ou the Mayflower on “the Blarney Stone of England.” Now, the spiritualists, with Ju Edmonds at their head, can easily settle knotty question while on the spot. We stand that enormous quantitics of tobacco morey, one coveolation. The roads have been built, the value of the adjacent lands has largely increased, trade and travel have augmented, and the roads, such as they are, are'in existence for the benefit of the country at large. They can think of these things, and though left with empty pockets, their patriotism may be appealed toand relied upon by the keen shavers who have ehorn them, to keep them in good humor. We have many more roads the desperate condi- tion of whose affairs will soon require legal action to protect them from “hostile creditors.” Tue JovrNEY MEN BAKERS AND Sunpay Work — We perceive, by a call of the journeymen bakers of this city, that, notwithstiuding the early hours that class is accustomed to keep, they want to be “aroused.” They have issued a call for a meeting, with a view to induce their employers to abandon Sunday labor, and allow them one day's recreation in the week, We incline to the opinion that grievances of this kind work out their own relief better than either public demon- stratione, or strikes, or combinations can effect it. There are some kinds of business—the newspaper business as well as others—which require seven days’ labor, and many which can be accomplish- ed with six, some kinds of labor requiring only six or eight hours a day, and some demanding twelve. It would seem that the parties who un- dertake to furnish a large community with such @ necessary article as bread would be among those whose labor may require the most uaceas- ing devotion; but why cannot some system of re- lief gangs be agreed to between employers and employed whereby the journeymen bakers can divide the Sunday work and the Sunday rest fairly between them? We think that six days labor in the week is enough for any one. Even the cattle have their days of repose, or if they have not they die off in a short time from ex- haustion. We suggest to the journeymen bakers, in the kindest spirit, that an amicable understand- ing with their employers would be more likely to effect their object than any combination or pub- lic assemblage, Tue Late Sovrmern Eecrions.—According to the returns received yesterday, the opposition in Tennessee have gained very largely upon their gubernatorial vote of the last preceding test election, and bave gained at least two mem- bers of Congress. They have done this by fight- ing the battle upon conservative principles, in- stead of flying off at a tangent like their brethren in Kentucky after that ratnous fire-eating ab- straction of a slave code for the Territories From North Carolina the scanty returns received indicate the continued ascendancy, without built on paper piers, and suspension bridges held up by financial kite strings, can be found jl around us. But if there are any such things as real stockholders, they have, in losing their brandy are to be consumed at this conveniion being among the doctrines of the spiritualj that we can eat, drink, and do many other this for the uge and benefit of the spirits in the o' world. Accordingly, some indulge in numerg drinks from conscientious and religious moti¥ and not from the love of the liquor. They dell merely because the tongue of some thirsty a in the spirit world, like Dives in the parable, parched and cleaving to the roof of his mo and though there is water all around he c get a drop to drink. Judge Edmonds in triously chews tobacco from morn till night, 1 from night till morn, for the gratification of sg friend in one of the spheres who delighted in weed when here below, but cannot get a qui the realms above. The Juége hates the d thing, but zealously performs the disagre duty of chewing as an uct of pure piety. the aseembled epirits just inform us who is the next President of the United States?” doing this they would do a very generoug and eave a world of trouble. There would necessity for any of the political conven which are to be held with a view to the cold of that question. Last of all, we are to have a conventio settle the basis and the superstructure new Catholic religion, which is to remod old and absorb all the ecattered fragment which Protestantiem is split. We trust t this movement the lenders will be eucce for though it is to be discussed in a convent it is the great idea of the age, both in # World and in the New. We hope Archi Hughes will attend and look after the int of bis Metropolitan Archdiocess in the arrangement. ANNIVERSARY OF THE ATLANTIC T! Dermium.—Just one year ago yester whole world was roused to a perfect deliri the news that the Atlantic telegraph cabli rafely laid to its final points at Trinity B Valentia. All through this country—and thi Evrope by the agency of the mysterious self—the intelligence ran like wildfires, great feat was accomplished; time and sp annibilated; the two continents were hem tobe one. We know how the popular ment was manifested here. Sermo preached magnifying the virtue of the glorifying the wonders of ecience, hum the progress of the age, and giving a little’ end rome thanks to Providence. Whitel De Sauty, and Hughes, and Field, and became household names, and many o did very little toward the result, and tried todoa great deal bunt did no great glory therefor. The Common Coune a congenial jollification, fer which the pal emartly, and to complete the féle we burned up the City Hatt. But on sober secord thought, poople b